If the marginal cost of producing a good is increasing as a firm produces more of the good, then which of the following must be TRUE?
A) AFC is rising.
B) AVC is rising.
C) MC > AVC.
D) MPL is falling.
D
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In an open outcry Dutch auction, ________
A) the bidders begin the bidding process with a low starting bid B) the auctioneer begins the bidding process with a low starting bid C) the auctioneer begins the bidding process with a high starting bid D) the bidders decide the starting bid
Refer to Table 4-3. The table above lists the marginal cost of polo shirts by Marko's, a firm that specializes in producing men's clothing. If the market price of Marko's polo shirts is $30, producer surplus is
A) $0. B) $16. C) $52. D) $68.
If Cruise with Us and Cruise the World are two luxury cruise lines in tacit collusion and Cruise with Us launches a new advertising campaign that states that it will meet any competitor's price on a comparable cruise, Cruise with Us might be tacitly signaling to Cruise the World that they are willing to ________.
A) maintain current the price B) cut price is exactly half C) raise their price D) lower their price
The WTO was:
a. formed shortly after World War II. b. authorized in the American Constitution. c. formed in 1995. d. formed in 1876. e. formed to unify the European continent.